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Consumer Confidence Hits Another Record Low

Consumer confidence hit another record low in December, according to the Conference Board, which tracks consumer sentiment.

The January number was 37.7, down from 38.6 in December.

The Present Situation component of the index -- how consumers feel about the present -- dropped from 30.2 to 29.9.

The Expectations Index component -- how consumers feel about the coming months -- dropped from 44.2 to 43.

The monthly survey is a sample of 5,000 households.

"Looking ahead, consumers remain quite pessimistic about the state of the economy and about their earnings," said Lynn Franco, director of the Conference Board Consumer Research Center: "And, until we begin to see considerable improvements in the Expectations Index, we can't say that the worst of times are behind us."